Tag: Marketwatch
Shares of home builders were broadly higher Friday, as the continued drop in longer-term Treasury yields helped soothe some fears about home affordability. The iShares U.S. Home Construction ETF ITB, +4.10% ran up 4.3% with all 47 equity components trading higher, while the S&P 500 SPX, +0.57% edged up 0.7%. PulteGroup Inc. PHM, +6.78% was […]
Shares of General Motors Co. GM, +0.55% dropped 1.7% in premarket trading Friday, after the automaker warned of a second-quarter earnings shortfall, as vehicle wholesale volumes were hurt by the timing of semiconductor shipments and other supply chain disruptions. The company expects net income for the quarter to June 30 to be between $1.6 billion […]
U.S. stocks opened lower on Friday ahead of a long holiday weekend as markets kicked off the second half of the year in the red. The Dow Jones Industrial Average DJIA, -0.57% dropped 54 points, or 0.2%, to 30,720. The S&P 500 SPX, -0.50% shed 4 points, or 0.1%, to 3,781. The Nasdaq Composite COMP, […]
USHG Acquisition Corp. hugs and Panera Brands Inc. said Friday that they have decided to end their partnership, as deteriorating market conditions has made it “unlikely” that an initial public offering for Panera will happen in the near term. USHG, a special purpose acquisition company, and fast-casual restaurant chain Panera, had announced an agreement in […]
The U.S. is stocking up on COVID-19 vaccines and health regulators have recommended updating booster shots to fight the omicron subvariants, amid concerns of another surge in the fall and spring. There’s good reason for those concerns, as the seven-day average of new COVID-19 cases have broken out of a two-month range, and has risen […]
Facebook owner Meta is bracing for a sharp downturn, with plans to cut 30% of engineer jobs this year, Chief Executive Officer Mark Zuckerberg told employees on Thursday, Reuters reported. “If I had to bet, I’d say this might be one of the worst downturns that we’ve seen in recent history,” Zuckerberg said during a […]
FedEx Corp. FDX, -3.04% was downgraded to hold from buy, and its price target cut to $275 per share from $300 by Berenberg analysts, who said the shipping giant had become “too much of a ‘show-me story. Shares had seen a recent reprieve amid a CEO change and apparent influence of an activist investor, analysts […]
The Food and Drug Administration on Thursday told COVID-19 vaccine makers that plan to update their boosters to add a BA.4 and BA.5 spike protein component to the new shots that are in development. These “bivalent” boosters should equally target the two subvariants of omicron as well as the original strain of the virus and […]
Electric-truck maker Nikola Corp. NKLA, +0.85% adjourned its shareholder meeting for a second time to July 18 after a key proposal failed to pass, the company said Thursday. Nikola has sought to increase its authorized number of shares to 800 million, from the about 600 million it has, potentially to raise capital. Of those 600 […]
Digital asset exchange FTX is nearing a deal to acquire crypto lender BlockFi for $25 million, or a 99% discount to its most recent private-market valuation, according to a report in CNBC. The deal could take months to close, according to the report, but a term sheet could be signed by the end of this […]